New install Ubuntu 10.10 Server, won't boot. "ls /dev/disk/by-uuid" generates Bus Error

Solution 1:

Solved it. It was the initramfs image, I backed it up, replaced it by running update-initramfs after binding dev, sys and proc to the directories on the hard drive and chrooting into it. Anyway, thanks Khaled and pehrs for your replies. Taking out the broken hard drive sped up the booting process as well. Also, now from the hard drive, it boots in 25 seconds!